I caught this short early on, but strange even though I understood the big picture I didn't clearly see how as their margins compressed they would simultaneously get hit by new competitors. Very bad luck here for Carbo.
I had thought about covering the short at $60, but honestly I don't see any light at the end of the tunnel here for a long time.
Your position makes sense. It is more likely that more drillers will cut back. And the most troubling part is that some drillers will probably depend on using more China sands as well. China's product will just get better knowing how they are good at copying and time is on their side while CRR is trying to redeploy which is very very expensive. I think this is very obvious short with the way the price has behaved. May trade to 2x sales or a little higher or around below $60.
I have never been on a message board with so many reasonable traders. So i thought i would see what you guys thought about facebook. I bought some ms today. I also will wait to buy some crr. Thanks all. Have a good weekend
I got scared and sold after hours yesterday. I will wait to see what happens. I lost a nice chunk but i guess you cant win them all. Maybe i need to learn how to read charts and not just gamble the way i do. Good luck to all
This one is a tough decision. Decent quarterly report and a pop and then destroyed. I have been watching this one. Scalped a win yesterday and now evaluating longer term. Might try a small long once I see how things open.
Phil... here's one of the main charts I use to help me find entry and exit points.
Here's a key thought that's easy to lose to track of-- we must take profit as our names move up. I use 25% for my first "take profit" step. I roughly calculate the profit and sell some round number of shares at that point. I don't sell out of the name, just sell some. As it moves up to say 50% do it again. If it moves below my take profit price, I buy them back. I don't use stops. Personal rules though I break them sometimes--usually to my peril.
The two year chart shows support at 96.78. It's blown through FIBO support on the 6 month (F, on Pivot Points in my Overlays).
Hard to say where it's going. Good luck to all of us.
Sorry, but not even close to oversold--much nearer to oversold. FIBO Support Level 3 (the last level) is 103.88 on the 6 month, so it's rebounded off that nicely enough. Expect another test of that level. Might be a good entry point.
Clarification-- the stock is still very close to overbought and not even close to oversold. I have been watching this name looking for a pullback to start to build a position as others have. I will be watching NatGas inventory numbers, as this stock may have a ways to go before settling. My guess is mid nineties to low nineties if it closes below 103.88 in the next few days. Another issue is that currently the SPX is severely overbought, and is over due for a correction. That may create a bit of headwind and push all boats down some too. Folks who have a three timeline on CRR will pile in here. Hard to imagine this name won't see something towards $200 again. Really worth watching right now.
Good luck all.
this is the chance I was waiting on. I have been wanting to get in and did so under $105 today. only 80 shares but a nice place to start.
when it is raining, go grab your buckets. just wish I had a bigger bucket